Explanation:

- Low academic standards: Poor education quality can hinder knowledge and skill development, limiting human capital growth.

- Brain Drain: The migration of skilled individuals to other countries for better opportunities depletes the local talent pool.

- Rising population: A rapidly increasing population can strain resources, making it hard to provide quality education and training for all.

Option 4: All of these explains the multidimensional challenges affecting human capital formation. Each factor contributes to the problem in its own way.